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Plato Gold Corp.
Summary
| Project: | Good Hope | |
|---|---|---|
| Deposit: | Good Hope | |
| Location: | Canada | |
| Commodities: | Niobium | |
| Date: | 9/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-9-2018: Plato Gold Corp. announces an Exploration/Drilling Update report for its Good Hope deposit at the Good Hope project. Drilling results incl. 93.08m @ 0.190% Nb2O5, 2.04% P2O5 from 354.18m. Toronto, Ontario – September 19th, 2018 - Plato Gold Cor | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Laura Giroux (Internal) | |
| ABSTRACT: | Toronto, Ontario – September 19th, 2018 - Plato Gold Corp. (TSX-V: PGC) (“Plato” or the “Corporation”) is pleased to announce the assay results from its recent diamond drilling program on the Good Hope Niobium Property in the Killala Lake and Cairngorm Lake Areas of northwestern Ontario. The property, which consists of 254 mining claims covering an area of approximately 5,100 hectares, is located approximately 45 kilometres northwest of the town of Marathon, Ontario. In May 2018, Plato completed 5016 metres of diamond drilling on the Good Hope Property. The drilling focused on outcropping mineralization at ‘Site 28’ in the northwestern part of the property and encompassed an area of approximately 500m by 500m (see Figure 3). All holes were drilled in a northwesterly direction. The nine completed drill holes ranged in length from 372 to 672 metres, testing the area to a vertical depth of between 285 and 580 metres (see Press Release dated 6 June 2018 for drill collar information). All holes intersected zones (up to 27m wide) of massive carbonatite within a brecciated system consisting of variably fenitized syenite/quartz-syenite intruded by carbonatite dykes and crosscutting carbonatite veins. Although the brecciated nature of the host rocks makes any orientation or trend of mineralization difficult to determine, the intersection of massive carbonatite in every drill hole from surface up to approximately 500m depth suggests that significant potential exists for niobium mineralization over a large area. Assays of the drill core samples collected from the program peaked at 0.950% niobium (Nb2O5) with 6.20% phosphorus (P2O5) over 1.1m in a sample of massive carbonatite (PGH-18-06, 382.94-384.04m; see Table 1). The two most significant intersections from the drilling program were 0.190% Nb2O5 and 2.04% P2O5 over 93.08m (drill hole PGH-18-06; 354.18-447.26m) and 0.175% Nb2O5 and 2.03% P2O5 over 89.24m (drill hole PGH-18-10A; 345.0-434.24m) (see Table 1). Dr. Roger Mitchell of Lakehead University is undertaking a petrographic study of core samples from the recent drill program and has made the following observations: “The ore mineral of the Good Hope carbonatite, in common with all other niobium producing carbonatites, is pyrochlore. The high density and coarse grain size of the Good Hope pyrochlores, along with an association with acid soluble inclusions and host carbonates may be very favourable for simplifying of ore beneficiation processes.” | |
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